by Bailey White
Staff Writer
As renovations for downtown residences continue, Springfield soon will get its own high-end residential space.
The property at 115 W. Second St. has been purchased by a developer who plans to turn the building into six condominium units called the Park Lofts at Hogan’s Creek.
Jim Brewer, an Atlanta-based developer, will oversee construction on the project.
“The condos have a unique location on the park and are surrounded by fully renovated houses,” he said.
The building was originally owned and built by the Jacobs family — as in Jacobs Jewelers —and their name is marked on the front porch. It is located beside their family home, and Brewer speculates it was built around 1900.
Demolition has just started on the property and Brewer said the project should be complete by February.
“We’re being extremely careful to preserve the architectural characteristics of the building,” said Brewer.
The condos will have characteristics that give other historic residences their charm — hardwood floors, exposed bricks and high ceilings. They will also have high-end Bosch appliances throughout. Each unit will have two bedrooms/two baths.
The investor, an Atlanta businessman with whom Brewer has collaborated before, bought the property from Brent Stanton, who owns the Old Time Hardware Store on Main Street. Brewer said he was attracted to the idea of developing in Jacksonville for several reasons.
“The main thing is the very well-managed municipal government,” said Brewer. “And there is a progressive attitude that everyone in Jacksonville presents; the Chamber and the business community. There is job growth. And Historic Springfield is a wonderful neighborhood.”
Though the project is in its early stages, Brewer said there has been considerable interest in the condos. As a real estate broker, he will be handling sales. He is working on a brochure which will show landscape plans and the projected appearance of the interiors. A range of prices, however, has yet to be determined.
“Until we get further with the renovations, it is hard to set a price range,” he said.
Brewer, who has already invested about $1 million in Springfield, said he is looking for other investment projects in that area.
“I’ve been in real estate for 39 years, and this is the best investment opportunity I’ve ever seen,” he said.